Better new Chase Credit Card

I am writing this posting to share about what I consider to be the best credit card offer I have heard. The card is the brand new Chase Sapphire Reserve card,(not to be confused with other available Chase Sapphire cards). First the bad news… the card charges a fee of $475 a year. But now the good news, particularly for anyone who’s cruising. Since many cruises cost at least several thousand dollars, this would appear to be applicable. If $4,000 is spent on the card within 3 months of card activation there is a cash Rebate of $1,000. Yes, that’s a thousand dollars. This surely swamps out the $475 activation fee. And as well as the one time $1,000 cash rebate, ($1,500 rebate if you choose to use their travel website [which I had omitted in a previous post]) The card also rebates 3 percent of everything spent for travel.

So to summarize, if someone were to get the card and then charge a, say $10,000 cruise, the total cash rebate would come to ($1,000 (one-time rebate) + $300 (for the 3% rebate) or a total of $1300 for the $10,000 cruise purchase. This is the best (non-business) rebate program of which I have heard. And the $475 charge for the card kind of gets lost in the numbers.

Oh, and an added benefit of the card is that for cruises of 5 to 60 days, it insures against the cost of possible medically-required helicopter evacuation, up to $100,000. This benefit is free.

Oh, and with certain restrictions, it also insures against medically being able to not make the cruise, up to $10,000 per cruise. This benefit is also free.

Oh, and there are no foreign transaction fees.

IIRC, all of the card benefits pay only after any other insurance the cruiser may have.

I have nothing to do with Chase and am only posting this information to share what I have learned recently in the hope it may help others. Of course, YMMV.

Karen and I (Scott) have each gotten one of these cards recently to each take advantage of the one time rebate. It’ll be great if the thing actually works out the way we planned.

Scott & Karen

:-) Thank you for the information. Sounds enticing.

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The cruise cancellation benefit is $10,000 per person for any relative traveling with you and charged on the card.

And you need a high FICO score to get the card.

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It is a great card. It has been discussed here under a thread regarding travel insurance from Sapphire

I've had it since August and already received my 100,00 points and $300 cash back.

It's a steal of a card.

Don't forget the free Global Entry ($100) or TSA Precheck ($85) Application fee.

Is that $475 per year or a one time activation charge?

Is that $475 per year or a one time activation charge?

Annual fee.

Also keep in mind that if you've opened a certain number of Chase accounts in the last two years you will be automatically declined.

Annual fee.

 

Also keep in mind that if you've opened a certain number of Chase accounts in the last two years you will be automatically declined.

I think I'll stick with my Costco card.

I think I'll stick with my Costco card.

Don't get me wrong, the new card is tempting, but yeah, most of my flights are free anyway (via reward miles) so the airline credit doesn't help offset that annual fee, and I don't travel often enough to make good use of the airport lounges. I'd get it and run up the 100k points and just keep it for one year, but I don't want the hard pull on my credit report right now.

Don't get me wrong, the new card is tempting, but yeah, most of my flights are free anyway (via reward miles) so the airline credit doesn't help offset that annual fee, and I don't travel often enough to make good use of the airport lounges. I'd get it and run up the 100k points and just keep it for one year, but I don't want the hard pull on my credit report right now.

It's not just an airline credit, it's any travel. Subway fare, tolls, rental cars, cruises, etc.

It's not just an airline credit, it's any travel. Subway fare, tolls, rental cars, cruises, etc.

That does make it more interesting, thanks.

The cruise cancellation benefit is $10,000 per person for any relative traveling with you and charged on the card.

And you need a high FICO score to get the card.

 

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Hi Goldenrod,

There is an old Polish saying "From your lips to G-d's ear." I'd like what you say to be the case. But unfortunately, I've gotten several different opinions on this matter. One side says it's $10,000 per cruise as opposed to $10,000 per passenger. This is one of the reasons that both Karen and I each have separate card accounts and different card numbers. This way, as long as we buy separate cruises (different boarding passes), even though they'll be on the same ship and same embarkation date, we should be all right. Thanks for the opinion. I'd love it if you are correct.

Fortunately, we have worked carefully to maintain a high enough FICO score that that requirement was not an important consideration for us.

Thanks for the good thought,

Scott & Karen

Hi Goldenrod,

 

There is an old Polish saying "From your lips to G-d's ear." I'd like what you say to be the case. But unfortunately, I've gotten several different opinions on this matter. One side says it's $10,000 per cruise as opposed to $10,000 per passenger. This is one of the reasons that both Karen and I each have separate card accounts and different card numbers. This way, as long as we buy separate cruises (different boarding passes), even though they'll be on the same ship and same embarkation date, we should be all right. Thanks for the opinion. I'd love it if you are correct.

Fortunately, we have worked carefully to maintain a high enough FICO score that that requirement was not an important consideration for us.

 

Thanks for the good thought,

 

Scott & Karen

I looked it over on their website and looks like it is even better than you have mentioned. They give an example of four family members missing a $6K each trip for a covered reason with the trip purchased with a single card. They would be reimbursed $20K; $6K each, but the limit is $20K total per trip. Also, the cost appears to be $450. per year, not $475. Medical evacuation includes air ambulance costs up to $100K. They also reimburse up to $300 per year in travel costs: not sure what that is, but looks like baggage fees, etc. I have never checked my FICO score, but assume if we can pay for our cruises on our credit card without ever paying credit card charges that it must be sufficient.

Thanks for posting..we will look into this, as it seems like a no brainer..:)

They also reimburse up to $300 per year in travel costs: not sure what that is, but looks like baggage fees, etc.

I just received the card last week and it's awesome. The annual fee is $450. I put a deposit on a cruise and immediately got the $300.00 travel credit. Plus will get 3x points for travel purchase.:D

It's not just an airline credit, it's any travel. Subway fare, tolls, rental cars, cruises, etc.

Yes, but . . . do the 100,000 points translate into 100,000 points necessary to, say, the American Airlines or Delta Airlines 100,000 mile necessary for a business class seat? Somehow I can't see the airlines accepting a bank's points, mile for mile. i think the 100,000 points are translated into a dollar figure what you can use for various things. My question: how many dollars does 100,000 points convert to? A business class seat to Rome, for instance, is regularly $7,000 on AA.

Yes, but . . . do the 100,000 points translate into 100,000 points necessary to, say, the American Airlines or Delta Airlines 100,000 mile necessary for a business class seat? Somehow I can't see the airlines accepting a bank's points, mile for mile. i think the 100,000 points are translated into a dollar figure what you can use for various things. My question: how many dollars does 100,000 points convert to? A business class seat to Rome, for instance, is regularly $7,000 on AA.

They translate point for point to various programs. Delta is not a partner though. You can book Delta equipment though one of their SkyMile partners though and fly a Delta route that way.

So yes, 100K Sapphire points equals 100K points in other programs. So 4 RT flights to Hawaii on Delta, booked via Singapore airlines. Or 100K Marriott Reward points, which would be terrible use compared to airline miles.

Yes, but . . . do the 100,000 points translate into 100,000 points necessary to, say, the American Airlines or Delta Airlines 100,000 mile necessary for a business class seat? Somehow I can't see the airlines accepting a bank's points, mile for mile. i think the 100,000 points are translated into a dollar figure what you can use for various things. My question: how many dollars does 100,000 points convert to? A business class seat to Rome, for instance, is regularly $7,000 on AA.

1:1 to United, Avios (AA, BA), Southwest, Amtrak, Hyatt, Hilton, etc.

1:1 to United, Avios (AA, BA), Southwest, Amtrak, Hyatt, Hilton, etc.

I like to use mine for Hyatt rooms. Good value IMO.

We have had the Sapphire preferred for several years

Both of us have our own, plus every other Chase card that gives miles as a bonus, plus all Citi bank mileage card plus cards in my corp name and wife's RE company name and we have not flown coach internationally in 7 years always business or first! But you must get those tickets as soon as they become available usually 321 day out and be willing to accept long layovers, but we don't mind being in a business class lounge with free food and drink! Our last flight to the U.K. Was first class on BA it would have cost $18000 for both one way! Using our miles it cost $800 in fees!

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Another great thing about this card is that you get a free priority pass, which gets you in to lots of airline clubs for no charge. As a long term traveler I love this perk. So much easier to deal with airport hassles when you have a club to hang out in. And it makes it much nicer when you have to hang out because you booked a long layover so you didn't have to worry about missing your cruise.

A guest, like your spouse, costs extra. A good reason why my spouse and I each got our own card (second card on same account is only $75 per year, so $525 for two of us). If you each have your own chase card you each get a airline club pass of your own, so no charge on entry to club for the spouse.

Also keep in mind that the annual fees don't count toward the $4K required spend in 3 months needed to get the 100K bonus points.

I have one question about the card insurance - if I cancel a cruise for a non-medical reason (for instance a death in the family) am I still covered by the travel insurance?

Actually the documentation I received with my Priority Pass card say guests traveling with me are free.

Another great thing about this card is that you get a free priority pass, which gets you in to lots of airline clubs for no charge. As a long term traveler I love this perk. So much easier to deal with airport hassles when you have a club to hang out in. And it makes it much nicer when you have to hang out because you booked a long layover so you didn't have to worry about missing your cruise.

 

A guest, like your spouse, costs extra. A good reason why my spouse and I each got our own card (second card on same account is only $75 per year, so $525 for two of us). If you each have your own chase card you each get a airline club pass of your own, so no charge on entry to club for the spouse.

 

Also keep in mind that the annual fees don't count toward the $4K required spend in 3 months needed to get the 100K bonus points.

 

I have one question about the card insurance - if I cancel a cruise for a non-medical reason (for instance a death in the family) am I still covered by the travel insurance?

It's even better: PP guests are free as long as you are with them.

Glad I found this post, as I hadn't even thought to check insurance!!

Another thing I'm doing to get even MORE points: I got a chase freedom unlimited card ALSO (no fee, 15 months interest free, 1.5% points on everything). Since dining and travel get 3% with reserve and 1% everything else, I'm putting all other purchases on this card and transferring them to the reserve to use the 50% bonus when you book travel.

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